Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution.
Credit Union Location in Ferndale, Washington
Ferndale, Washington have 1 agent Credit Union location in your country. All country.
National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution.
| Agent | Contacts |
|---|---|
| Ferndale Refinery Credit Union, Ferndale |
3901 Unick Road Ferndale, WA 98248
Phone: (360) 384-8372 Routing number: 68234 |
Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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